40-758. Foreign and alien societies to procure license to transact business in state; filing and other requirements. No foreign or alien society shall transact business in this state without a license issued by the commissioner of insurance as provided in K.S.A. 40-214, and amendments thereto. Any such society desiring admission to this state shall:
(a) Comply substantially with the requirements and limitations of this act applicable to domestic societies and the applicable provisions of K.S.A. 40-209, and amendments thereto;
(b) file with the commissioner of insurance:
(1) A duly certified copy of its articles of incorporation;
(2) a copy of its bylaws, certified by its secretary or corresponding officer;
(3) a power of attorney to the commissioner of insurance as prescribed in K.S.A. 40-777;
(4) a statement of its business, under oath of its president and secretary or corresponding officers, in a form prescribed by the commissioner of insurance, duly verified by an examination made by the supervising insurance official of its home state or other state, territory, province or country, satisfactory to the commissioner of insurance;
(5) a certificate from the proper official of its home state, territory, province or country that the society is legally incorporated and licensed to transact business therein;
(6) copies of its certificate forms; and
(7) such other information as the commissioner of insurance may deem necessary; and
(c) show that its assets are invested in accordance with the provisions of this act.
History: L. 1988, ch. 154, ยง 21; Jan. 1, 1989.
Structure Kansas Statutes
Article 7 - Fraternal Benefit Societies
40-740 Representative form of government; election and voting criteria.
40-743 Laws and rules; provisions relating to membership to be specified.
40-746 Society's laws nonwaivable by subordinate bodies, officers or members.
40-748 Benefits not subject to attachment, garnishment or process.
40-750 Valuation of paid-up nonforfeiture benefits, cash surrender values and loan or other options.
40-753 Insurance laws application to societies.
40-757 Examinations; notice and opportunity to respond; payment of expenses.
40-767 Reinsurance; limitations; credit for reserves on ceded risks.
40-769 Conversion of society into mutual or stock life insurance company.
40-772 Same; report of meeting to be filed with commissioner.
40-778 Review of commissioner's decisions.